property catastrophe reinsurer, IPC Holdings Ltd.

Mr. Weale, a Fellow of the Chartered Institute of Management Accountants, was previously vice president in charge of offshore management services with American International Company Ltd.

He was also part of AIG Insurance Management Services, AIG's global captive management organisation, where he was responsible for the accounting and financial functions of all offshore operations.

GREENE JOINS STARR EXCESS APP Greene joins Starr Excess Clinton N. Greene has succeeded Jospeh Wiedemann as senior vice president, marketing at Starr Excess . Mr. Greene, previously president of the American Excess Insurance Association's management company, took over Mr. Wiedemann's duties on June 30.

TERRA NOVA DECLARES DIVIDEND BUC Terra Nova declares dividend Terra Nova (Bermuda) Holdings Ltd. has declared a regularly quarterly dividend of two cents per ordianry share.

The dividend is payable on September 27 to shareholders of record on September 6.

Terra Nova (Bermuda) Holdings, through subsidiaries Terra Nova Insurance Company Ltd., Octavian Syndicate Management Ltd. and Terra Nova (Bermuda) Insurance Company Ltd., provides insurance and reinsurance coverage.

CME UPS STAKE IN NOVA TV TV CME ups stake in Nova TV Bermuda-registered Central European Media Enterprises Ltd. (CME) plans to up its holding of Czech Independent Television (Nova TV).

The company will spend about $36 million to acquire an additional 22 percent of economic interest and 20 percent voting interest in Nova TV from the Czech Savings Bank.

CME said it will likely sell part of its interest in Nova TV to financial institutions in the Czech Republic.

DEADLINE DELAYED SHI Deadline delayed Sea Containers has extended the expiration date of its consent solicitations to holders of its series A Series B 12.5 percent senior debentitures and its 9.5 percent senior notes.

The consents relate to proposed changes in the indentures governing the notes.

DIRECTOR NAMED APP Director named Loay Al-Naqib has joined the board of directors of cat reinsurer, GCR Holdings Ltd., replacing the seat left vacant by the resignation of Richard D.

Spurling.

Mr. Al-Naqib spent 16 years as general manager of Arig Re , the London-based reinsurance arm of Arab Insurance Group. Under his management, the Group's reinsurance premiums written grew from $17 million (1981) to $323 million (1995), including $90 million premium written by subsidiary Arig Insurance Company Ltd.